{"id":65287,"date":"2018-05-04T23:07:28","date_gmt":"2018-05-04T15:07:28","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/orbcomm-q1-revenue-peaks-at-68m-2\/"},"modified":"2018-05-04T23:07:28","modified_gmt":"2018-05-04T15:07:28","slug":"orbcomm-q1-revenue-peaks-at-68m-2","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/orbcomm-q1-revenue-peaks-at-68m-2\/","title":{"rendered":"Orbcomm Q1 Revenue Peaks at $68M"},"content":{"rendered":"<\/p>\n<p><strong>Orbcomm<\/strong>, a global provider of Industrial Internet of Things (IIOT) solutions, has announced financial results for the first quarter ended March 31. Total revenue of $68&nbsp;million was&nbsp;up $16.1&nbsp;million, or&nbsp;30.9 percent, compared to $51.9&nbsp;million during the same period of 2017.<\/p>\n<p>Service revenue of $38 million was up $8.5 million, or 28.7 percent over the prior year period that included organic growth of 7.9 percent. Recurring service revenue increased 31.4 percent to $36.7 million.<\/p>\n<p>Product sales&nbsp;of $30&nbsp;million&nbsp;grew $7.6 million, or 33.8 percent,&nbsp;compared to $22.4 million. Most of the growth&nbsp;occurred&nbsp;in the transportation, marine and heavy equipment markets.<\/p>\n<p>Total cost of revenue and operating expenses was $72.2 million compared to $52.3 million. The increase was due to higher revenues for services and products, and the acquisitions completed after the first quarter of 2017.<\/p>\n<p>Loss before income taxes was $9.1 million versus $2.7 million. The quarterly loss widened mostly due to higher costs from the 2017 acquisitions, and higher interest expense of $2.8 million.<\/p>\n<p>Net loss attributable to Orbcomm common stockholders was $10.1 million compared to $3.3 million in 2017. The increase is attributable to higher depreciation and amortization of $1.2 million, higher interest expense of $2.8 million, and higher operating costs, mostly associated with acquisitions completed after the first quarter of 2017. Basic Earnings Per Diluted Share (EPS) saw a loss of $0.13 per share versus a loss of $0.05 in 2017.<\/p>\n<p>Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) were $7.8 million compared to $10.6 million in 2017. Adjusted EBITDA was $10.1 million, or 14.9 percent of total revenue, versus $12.4 million in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orbcomm, a global provider of Industrial Internet of Things (IIOT) solutions, has announced financial results for the first quarter ended March 31. Total revenue of $68&nbsp;million was&nbsp;up $16.1&nbsp;million, or&nbsp;30.9 percent, compared to $51.9&nbsp;million during the same period of 2017. Service revenue of $38 million was up $8.5 million, or 28.7 percent over the prior year [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":63701,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-65287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65287"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=65287"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/63701"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=65287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=65287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=65287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}